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An energy package reflecting America’s new energy reality

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World Pipelines,

The American Petroleum Institute applauded the action on 25 May by the US House of Representatives to pass its amendment to S. 2012, the Energy Policy Modernisation Act, and vote to go to conference with the Senate to advance comprehensive, bipartisan energy legislation that will expedite LNG export permitting and ensure natural gas pipelines are permitted more efficiently.

“Today marks another critical step by Congress to enact a comprehensive energy package that reflects America’s new energy reality,” said API Executive Vice President Louis Finkel. “The US is now the world’s leading producer of oil and natural gas, and we need a forward-looking energy policy if we are to remain an energy superpower and maintain global competitiveness.

“It’s time for our nation to fully embrace the vast economic and geopolitical opportunities unleashed by the US energy renaissance. Allowing American natural gas to compete in the world market will create jobs, ensure that consumers across the globe have access to stable, diverse energy supplies and enhance national security.“Independent reports show exporting US LNG will reduce global greenhouse gas emissions. In fact, the US is leading the world in reducing carbon emissions, which reached a 22 year low in 2015 thanks to industry innovation and the increased use of natural gas in power generation.

“In addition, we need to invest in safe, reliable infrastructure. Setting realistic deadlines for approving pipelines, which are one of the safest and most efficient modes to transport product, will enhance the delivery of affordable energy that consumers need.

“This energy renaissance has created unprecedented opportunities for Americans of all backgrounds. A recent IHS study estimates that nearly 1.9 million job opportunities could be created through 2035 in America’s oil, natural gas and petrochemicals industries. These are good-paying careers that pay an average of nearly US$50,000 higher than the US average. This legislation promotes education and workforce training and development, which will help ensure that underrepresented communities have competitive access to job opportunities in the energy sector.”

On 25 May, API sent a letter to members of the US House of Representatives urging them to seize this opportunity and support its amendment to S. 2012 and the motion to move to conference. API now urges the Senate and House to work together and move quickly to get this bipartisan energy legislation to the president’s desk for signature.

Edited from source by Stephanie Roker

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